***UPDATE: The expected on market date has been adjusted from May 6, 2026 to May 8, 2026. Showings may now be scheduled through ShowingTime in advance for the official market launch on Friday, May 8th*** There’s something special about a home that just feels right, and 514 Fairhill Rd delivers that feeling from the moment you arrive. Perfectly suited for a first-time buyer ready to put down roots or someone looking to simplify and downsize, this cozy and inviting home offers comfortable living with just the right amount of space to enjoy without the burden of excess upkeep. Step inside to find a bright and inviting living space, nicely sized bedrooms, and a cozy eat-in kitchen that offers both functionality and charm. The layout is thoughtfully designed to maximize every square foot, creating a warm and comfortable place to call home. The basement provides excellent potential, whether you’re looking to add additional living space, a home gym, office, or recreation area, a few finishing touches can go a long way in expanding your possibilities. The expansive rear deck overlooks a large, beautifully landscaped yard that offers privacy, space to entertain, and room to relax or play. Whether you’re hosting summer gatherings, enjoying your morning coffee, or simply unwinding after a long day, this outdoor setting is a standout feature. Two generously sized sheds provide ample storage or the opportunity to create a workshop, studio, or hobby space. Conveniently located within the highly regarded Pennridge School District, you’ll enjoy easy access to shopping, dining, parks, and major commuter routes....making everyday living both simple and convenient. Schedule your showing today!!!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
